If you want to protect your credit for fear of identity theft or you are a recent victim of identify theft credit freeze is a good way to immediately protect yourself. In a sense, this is like putting a padlock on your credit profile to protect your identity.

A credit freeze, or security freeze, can be requested by each of the 3 credit bureaus (Equifax, Transunion and Experian) to seal your credit report making your credit report inaccessible, unless you give authorization with a password or personal ID number.

However, keep in mind that a security freeze may delay, prohibit or interfere with timely approval of request or application you make regarding a mortgage, insurance, new loan, insurance, government services or payments, rental housing, employment, etc.

Each of the credit bureaus charge from $3 to $10 to place a freeze on your credit report.  However, if you are a recent victim of identify theft; you may be able to get a credit freeze at no cost.  Costs vary by state, so check your state’s guidelines.

A credit freeze does not hurt your credit.  It is a method to protect someone from accessing your credit report unless you give permission.

Removing a credit freeze varies for each bureau, but you typically have 2 options.  You can temporarily remove the credit freeze (or thaw) or permanently remove it.  A temporary lift, typically lasting 7, 15, or 30 days, is used when you need a third party to access your credit.  Of course, a permanent lift means your want your credit information available to anyone without restrictions.  There maybe a cost with lifting your credit, again check with your state’s guidelines.

Below are links to the 3 credit bureaus for more information about credit freeze:

Experian

• Credit Freeze Page
• Experian form: Temporary, Permanent

Equifax

• Credit Freeze Page
• Equifax form

TransUnion

• Credit Freeze Page
• TransUnion form

The Better Business Bureau (BBB) recently released a list of the top 10 scams and rip-offs of 2009. Due to the current tough economic conditions many people are looking to make some side money and are easily duped into scams and rip-offs.  

The following are the BBB’s list of the top scams and rip-offs in the U.S. in 2009:

1. Acai Supplements and Other “Free” Trial Offers – Ads offering trial offers for teeth whiteners, acai anti-aging pills and other miracle supplements blanket the Internet, including trusted Web sites of national news organizations. The marketing campaigns often falsely claimed an endorsement by Oprah, Rachel Ray and Doctor Oz. Thousands of consumers complained to BBB that the free trial actually cost them as much as hundreds of dollars, month after month.

2. Stimulus/Government Grant Scams – Even before President Obama announced the stimulus plan in February, scammers had already set up schemes for misleading consumers and small business owners into thinking they could get a piece of the pie. Offers for worthless assistance and advice on how to get government grants bombarded consumers online, over the phone and via mail and e-mail.

3. Robocalls – Owning a cell phone or having their phone number on the do-not-call list did not help thousands of people across the US put a stop to harassing automated telemarketing calls in 2009.  The robocalls often claimed that their auto warranty was about to expire—which wasn’t true—or offered help in reducing their interest rate on their credit card. The prevalence of robocalls violating federal telemarketing laws prompted the FTC to increase restrictions on the practice in 2009.

4. Lottery/Sweepstakes Scam – The victim receives a letter in the mail pretending to be from Reader’s Digest, Publisher’s Clearing House or a phony foreign lottery claiming that he or she has won millions. The letter comes with a check that represents only a portion of the total winnings. In order to get the rest, the victim has to deposit the check and then wire hundreds of dollars back to the scammers supposedly to cover taxes or some other bogus fee. The victim wires the money, but the prize never arrives.

5. Job Hunter Scams –Scams targeting job hunters vary and include attempts to gain access to personal information such as bank account or social security numbers and requirements to pay a fee in order to even be considered for the job.  Another common scam was reported to BBB by job hunters who were told by a prospective employer that they had to check their credit report before being considered for a job. The job offer is actually a marketing ploy for online credit monitoring that costs the victim every month until they cancel.

6. Google Work from Home Scam – Countless Web sites cropped up in 2009 that claimed you could learn how to make money from home using Google or Twitter and offered a free trial of learning materials. The Web sites often included the Google or Twitter moniker and logo. As a result, many people who complained to BBB thought they were getting a job with Google or Twitter when in, fact, they were being lured into another misleading free-trial offer and were billed every month for the materials and other mystery charges that added up to hundreds of dollars.

7. Mortgage Foreclosure Rescue/Debt Assistance – Many families are struggling in the current economy and hucksters are offering to help them save their house from foreclosure or help them get out of credit card debt. Unfortunately, victims are paying hundreds of dollars up front for the assistance they desperately need but ultimately never receive.

8. Mystery Shopping – Consumers across the country thought that they could make some extra money by becoming a secret shopper and evaluating the customer service of various stores. The victim is asked to evaluate their shopping experience at a few stores as well as a money wiring service such as Western Union or MoneyGram by wiring money back to the scammers. A seemingly real looking check is supposed to cover the costs, but ends up being a fake. The victim is out hundreds, if not thousands, of dollars.

9. Over-Payment Scams – Over-payment scams typically target small business owners, landlords or individuals with rooms to rent and sellers on classifieds or sites like Craigslist. Typically the scammer pretends to be a customer, possible renter or interested buyer, respectively. The victim receives a check for more than the amount requested. The scammers then ask the victim to deposit the check and wire the extra amount elsewhere, such as to a shipping company. Ultimately though, the check is fake and the victim is really wiring money back to the scammers.

10. Phishing e-mails/H1N1 spam – A perennial problem, phishing e-mails pop up in inboxes and can take various forms such as appearing to be from a business, a government agency or official or even a friend. Whatever the setup, the goal of any phishing e-mail is the same: to trick victims into divulging sensitive financial information or to infect the victim’s computer with viruses and malware. In addition to phishing e-mails, spam e-mail selling wares to prevent the spread of the H1N1 virus were particularly rampant in 2009.

If you use social networks such as Facebook or Twitter, be very careful what you post.  The CNN video above is about a couple learning this the hard way.  The girlfriend posted on her Facebook page that she was heading to a concert with her fiancé.  Later hidden cameras ended up catching 2 men breaking into their home.  One of the burglars is suspected to be a Facebook friend of the girlfriend.

Google has made it easier for just about anyone to advertise on TV.  Google TV Ads allows you to upload your video ads from the comfort of your computer.  You can then buy ad time on various TV networks at times you choose.  The above video shows a demo of Google TV Ads (provided by SlateV.com).

It’s shameful that President Obama and the Democrats have worked so hard to reform healthcare and there are so many people still against it.  The people against it, I assume have healthcare insurance and don’t really care about their fellow neighbor who can’t get healthcare insurance because of a preexisting condition or who can’t afford it.   Or maybe they are just diehard Republicans.  However, I’m certain the 32 million people who don’t have health insurance are happy.  Although the healthcare reform bill isn’t perfect it sure is a very good first step.

Below are facts about the Healthcare Reform Bill:

Deficit:

• According to the CBO (Congressional Budget Office), the bill will reduce the deficit by an estimated $143 billion in first 10 years.

Coverage:

• Expands coverage to approximately 32 million Americans currently uninsured.

Health Insurance Exchanges:

• Uninsured and self-employed will be able to buy insurance through state-based exchanges with subsidies available to individuals and families with income between the 133% and 400% of poverty level.
• In 2014 Separate exchanges will be created for small businesses to purchase coverage.
• States will be funded to create exchanges within one year of enactment and until January 1, 2015.

Subsidies:

• Individuals and families who earn between 100% and 400% of the Federal Poverty Level (FPL) and want to purchase their own health insurance on an exchange are eligible for subsidies. They cannot be eligible for Medicare, Medicaid and cannot be covered by an employer. Eligible buyers receive premium credits and there is a cap for how much they have to contribute to their premiums on a sliding scale.

Medicare:

• Closes the Medicare prescription drug “donut hole” by 2020. Seniors who hit the donut hole by 2010 will receive a $250 rebate.
• Starting in 2011, seniors in the gap will receive a 50% discount on brand name drugs. The bill also includes $500 billion in Medicare cuts over the next decade.

Medicaid:

• Medicaid expanded to include 133% of federal poverty level which is $29,327 for a family of four.
• States will be required to expand Medicaid to include childless adults starting in 2014.
• Federal Government pays 100% of costs for covering newly eligible individuals through 2016.
• Illegal immigrants are not eligible for Medicaid.

Insurance Reforms:

• After six months insurance companies can no longer denying children coverage based on a preexisting condition.
• In 2014 insurance companies cannot deny coverage to anyone with preexisting conditions.
• Children can stay on parent’s insurance plans until age 26th.

Abortion:

• Private insurance premium funds are segregated from taxpayer funds. Individuals will have to pay for abortion coverage by making two separate payments.
• No health care plan will be required to offer abortion coverage. States can pass legislation choosing to opt out of offering abortion coverage through the exchange.

Individual Mandate:

• In 2014, everyone must purchase health insurance or face a $695 annual fine. However, there are exceptions for low-income people.

Employer Mandate:

• Employers with more than 50 employees must provide health insurance or pay a fine of $2000 per worker each year if any worker receives federal subsidies to purchase health insurance. Fines applied to entire number of employees minus some allowances. Technically, there is no employer mandate.

Immigration:

• Illegal immigrants will not be allowed to buy health insurance in the exchanges.

Source: CBS News

Related Article:

• How Will Healthcare Reform Affect You?

Equifax is offering a free “Credit Score Card” which provides you a range of where your credit score is. The score is from their “Equifax Risk Score” system, not the FICO score. The Equifax Risk Score has a range from 280-850, which is almost the same as FICO which is 300 to 850.  The tool is good for giving you an idea your credit score.

I checked to see my score and was happy to see it was high.  (See screen shot below).  Having a high score will help with qualifying for lower interest rates and offers from lenders.

Other places you can get a free credit report and score is at Quizzle.com and at Karma.com.

Most checking accounts pay almost no interest. However, there are 3 banks currently paying over 4% in interest for checking accounts.

Royal Bank is currently paying 4.3%, Bank of the Sierra is paying 4.09% and Danvers Bank is paying 4.01%.These rates are variable and will change.

Of course there are requirements to get the 4%+ interest. The features and requirements are as follows:

Royal Bank

Requirements to Receive 4.30% APY

• 15 Point of Sale Debit Card Transactions
• 1 Direct Deposit and/or ACH Debit/Credit
• E-Statement (must provide valid e-mail address)

Features

• $100.00 minimum to open
• No minimum balance once opened
• No monthly service fee
• 4.30% Annual Percentage Yield (APY) earned on daily collected balances up to $24,999
• Rate accurate as of October 1, 2009 and has been the effective rate since May 7, 2009
• Access to ATM’s Nationwide
• Royal Banks MasterCard Debit Card
• FREE Royal Banks Online Banking and Bill Pay

Bank of the Sierra

Requirements to Receive 4.09% APY

• Minimum 12 Sierra Check Card purchases per statement cycle (Purchases must be posted, not pending — excludes ATM transactions)
• Minimum one direct deposit or automatic payment from your account per statement cycle (must be posted, not pending)
• Make at least one payment using Sierra BillPay per statement cycle (must be posted, not pending)
• Enroll & receive Sierra eStatements
• Must be opened online

Features

• Earn 4.09% APY on balances up to $25,000
• Earn 1.01% APY on balances above $25,000
• If monthly qualifications are not met, you still earn .12% APY
• Reimburses up to $25.00 in ATM fees nationwide per statement cycle
• Free Sierra eStatement every month
• Free Sierra Bill Pay
• Free Sierra Check Card
• No monthly service charge
• Overdraft protection available with a savings account or apply for a line or credit

Danvers Bank

Requirements to Receive 4.01% APY

• Perform at least 12 debit card transactions (excluding ATMs)
• Receive their monthly statement electronically
• Access Online Banking
• Sign up for direct deposit or receive a recurring ACH.

Features

• Pays a rate like a CD (4.01%APY) without tying your funds up for a fixed period of time
• No daily minimum balance requirements to satisfy
• No monthly maintenance charges
• Enjoy refunded ATM fees nationwide
• Money is available 24/7 through a Danversbank Debit MasterCard
• Points2U rewards